12/31/04
                  U.S. SECURITIES AND EXCHANGE COMMISSION
                       Washington, D.C. 20549

                           FORM 10-KSB
(Mark One)

		ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF
			THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year beginning January 1, 2004 and ending December 31, 2004


                     Commission file number: 0-2664


                        INVESTORS FINANCE, INC.
     (Exact name of small business issuer as specified in its charter)
                         ___________________

              HAWAII                                    99-0112763
	(State or other jurisdiction of			(I.R.S. Employer
	incorporation or organization)			Identification No.)

        820 Mililani STREET, 3rd Floor, HONOLULU, HAWAII     96813
	(Address of principal executive offices)	(Zip Code)

               Issuer's telephone number: (808) 533-7437
                         ___________________

Securities registered under Section 12(b) of the Exchange Act:

                                None

Securities registered under Section 12(g) of the Exchange Act:

                       Common Stock, no par value
                          (Title of class)
<PAGE>
Check whether the issuer (1) filed all reports required to be filed by
Section 13 or 15(d) of the Exchange Act during the past 12 months (or for
such shorter period that the registrant was required to file such reports),
and (2) has been subject to such filing requirements for the past 90 days.
  Yes [   ] No[ x ]

Check if there is no disclosure of delinquent filers in response to Item 405
of Regulation S-B contained in this form, and no disclosure will be contained,
to the best of registrant's knowledge, in definitive proxy or information
statements incorporated by reference in Part III of this Form 10-KSB or any
amendment to this Form 10-KSB.  [ x ]

Issuer's revenues for its most recent fiscal year: ($3,157,756.00)

Aggregate market value of the issuer's common stock held by non-affiliates
as of December 31, 2004: $0

Number of shares outstanding of the issuer's common stock as of
December 31, 2004: 6,000,000. However, the number of authorized shares of
common stock was increased during September, 2003 to 9,000,000,
although these additional shares were not issued at the close of the
period ending.

                   DOCUMENTS INCORPORATED BY REFERENCE: None

            Transitional Small Business Disclosure Format (check one):

                            Yes [   ]  No [ X ]

PART I

Item 1.	Description of Business

General

Registrant (Invesors Finance, Inc.) timely filed its Annual Report as of
December 31, 2004 on a Form 10QSB by a technical error and hereby
corrects its Annual Report as of December 31, 2004 on Form 10KSB.

Investors Finance, Inc. ("IFI" or "Company") is a Hawaii corporation,
licensed under the Hawaii Code of Financial Institutions to operate as a
non-depository financial services loan company for the purposes of
originating, selling, brokering and servicing of loans and extensions of
credit.

The Company's corporate offices are located at 820 Mililani Street, 3rd Floor,
Honolulu, Hawaii 96813. The Company's phone number is 808-533-7437.

The financial statements and other financial information included in
this Annual Report, are believed to fairly present in all material
respects the financial condition, results of operations and cash flows
of the registrant as of, and for, the period presented in this
Annual Report. Management has retained the services of a certified
public accountant to prepare a compilation of its books and records
and to the best of our knowledge and belief, this report correctly
reflects the financial condition of the Company as of December 31,
2004. While the financial statements have not been audited, the
Company anticipates having audited financial statements prepared
when it is financially able to do so.

Development of Business

The Company was organized under the laws of the State of Hawaii on November 1,
1960.

On May 9, 2002, new executive management reestablished the Company and
initiated limited backroom activities preparatory to reentering the
mortgage lending marketplace as an originator and broker of first and
second residentail mortgage loans. In 2003, IFI began offering mortgage loan
origination and brokerage services to the public.  IFI began operations
in Hawaii and expanded its operations to California.

Business

The Company operates as a licensed financial services loan company primarily
as an originator and broker of first and second residential mortgage loans. IFI
continues to examine other types of mortgage and consumer lending business to
determine if those activities will benefit IFI and fit within its business plan.

The Company is headquartered in the State of Hawaii with its corporate office
located at 820 Mililani Street, 3rd Floor, Honolulu, Hawaii 96813. During the
time period of this report, the Company continued to deliver its principal
services of the lending, loan originating, brokering and servicing of
nonprime residential mortgages from its office in Hawaii at 820 Mililani
St., 3rd Floor, Honolulu, Hawaii 96813. In May of 2004, the Company formed
a wholly owned subsidiary San Diego Home Loans, Inc., a California corporation
located at 10080 Carroll Canyon Road, San Diego, California 92131.  The new
subsidiary San Diego Home Loans took over control of the California
operations of Investors Finance, Inc., doing business as Ohana Finance.
The Company in July of 2004 caused to be filed Articles of Organization
for IFI Capital Mortgage Fund, a Hawaii Limited Liability Company as a
co-managed member. The Companies CEO Michael Monaco will also act as a
co-managing member of the IFI Capital Mortgage Fund, LLC.
On August 30, 2004, the Company acquired all the shareholder interest
of an independent mortgage company based on the Island of Maui in the
State of Hawaii which operated under a similar name Ohana Finance & Mortgage,
Inc. The acquisition of Ohana Mortgage solidifies the name OHANA
(the word Ohana means Family in Hawaiian) for IFI as a trade name.
On October 1, 2004, the Company also formed a new wholly owned subsidiary
Sub 500 Mortgage, Inc.,a California corporation located at 10080 Carroll
Canyon Road, San Diego, California 92131. Sub 500 Mortgage, Inc., was
formed to originate and fund mortgage loans in the States of Hawaii and
California for the purpose of assisting credit impacted borrowers who are
unable to acquire mortgage loans in today's marketplace.  Management of the
Company believes that these opportunities will enhance the Company's
position as an acting parent corporation.


Principal Products and Services

The principal services of the Company are the origination, brokerage and
servicing of first and second residential mortgage loans. However, IFI may
conduct other activities as it explores the profitable opportunity to
conduct other activities authorized for a non-depository financial services
loan company under Hawaii Law and Statute or the applicable State and Federal
Law affecting the operation of its wholly owned subsidiaries.


Competition

The financial services industry, including the Hawaiian and California
markets in which the Company primarily operates, is highly competitive.
Competition is based on the type of loan, interest rates, and service.
Traditional competitors in the financial services industry include comercial
banks, credit unions, thrift institutions, credit card issuers, consumer
and commercial finance companies, and leasing companies, many of which
have considerably greater financial and marketing resources than the Company.
Moreover, major brokerage firms, insurance companies, retailers and bank holding
companies have formed substantial national financial services networks.
The Company believes that it has experienced executive management and
an operating record from 2002 to present necessary to compete effectively
in its markets by providing competitive services.

Consistent with the remarks made above, the mortgage originating business
in the States of Hawaii and California is very competitive. The Company faces
significant competition in connection with its services, principally from
national companies that focus their efforts on making mortgage loans to
borrowers. Many of these competitors have considerably greater financial and
marketing resources than the Company. Although these large national companies
compete in the mortgage loan industry, this industry, as a whole, is highly
fragmented and no one company has a significant share of the total mortgage
loan market.


Government Approvals and Regulations

IFI is a Hawaii corporation conducting business as a licensed supervised
lender under Chapter 412, Article 9, Part II of the Hawaiian Revised
Statutes. As such the Company's brokerage operations and such lending
operations as it may engage in are subject to extensive local, state and
federal regulations including, but not limited to, the following federal
statutes and regulations promulgated thereunder: Title 1 of the Consumer
Credit Protection Act of 1968, as amended (including certain provisions
thereof commonly known as the"Truth-in-Lending Act" or "TILA"), the Equal
Credit Opportunity Act of 1974,as amended ("ECOA"), the Home Mortgage
Disclosure Act, the Fair Credit Reporting Act of 1970, as amended ("FCRA"),
the Fair Debt Collection Practices Act, as amended, the Real Estate Settlement
Procedures Act ("RESPA") and the National Housing Act, as amended. In addition,
the Company is subject to state laws and regulations, including those with
respect to the amount of interest and other charges that lenders can collect on
loans (e.g., usury laws).

Mortgage lending laws place limitations on the amount, duration and charges
for various categories of loans, require adequate disclosure of certain
contract terms and place limitations on certain collection practices and
creditor remedies. Many states, including Hawaii, have usury laws that limit
interest rates, although the limits generally are considerably higher than
current interest rates charged by the Company. State regulatory authorities
may conduct audits of the books, records and practices of the Company's
operations. The Company is licensed to do business in each state in which
it does business and in which such licensing is required and believes it is
in compliance in all material respects with these regulations.

The Company's mortgage loan origination activities are subject to TILA.
TILA contains disclosure requirements designed to provide consumers with
uniform, understandable information with respect to the terms and conditions
of motgage loans and credit transactions in order to give them the ability to
compare credit terms. TILA also guarantees consumers a three-day right to
cancel certain credit transactions, including any refinanced mortgage loan
or junior Mortgage Loan on a consumer's primary residence. The Company
believes that it is in substantial compliance in all material respects
with TILA.

The Company is also required to comply with the ECOA, which, in part,
prohibits creditors from discriminating against applicants on the basis of
race,religion, national origin, sex, age or marital status. ECOA restricts
creditors from obtaining certain types of information from loan applicants.
It also requires certain disclosures by the lender regarding consumer rights
and requires lenders to advise applicants who are turned down for credit of
The reasons therefor. In instances where a loan applicant is denied credit,
or the rate or charge for a loan is increased as a result of information
obtained from a consumer credit agency, another statute, the FCRA, requires
the lender to supply the applicant with the name, address and phone number
of the reporting agency. RESPA was enacted to provide consumers with more
effective advance disclosures about the nature and costs of the settlement
process, and to eliminate kickbacks or referral fees that raised the costs
of settlement services. RESPA applies to virtually all mortgages on resi-
dential real property that is designed principally for occupancy of one to
four families. Specific disclosures mandated by RESPA include, without
limitation, estimates of closing costs, transfers of servicing, affiliated
business arrangements and other settlement information.

In the opinion of management, existing statutes and regulations have not
had a materially adverse effect on the business done by the Company. However,
it is not possible to forecast the nature of future legislation, regulations,
judicial decisions, orders or interpretations, nor their impact upon the
future business, financial condition or prospects of the Company.

The Company believes that it is in compliance with state and federal laws
and regulations governing its lending activities. However, there can be no
assurance that the Company will not inadvertently violate one or more of such
laws and regulations. Such violations may result in actions for damages, claims
for refunds of payments made, certain fines and penalties, injunctions
against certain practices, and the potential forfeiture of rights to repay-
ment of loans. Further adverse changes in the laws or regulations to which
the Company's business is subject, or in the interpretation thereof, could
have a material adverse effect on the Company's business.

Employees

As of December 31, 2004, the Company employed a total of 50 full-time
equivalent employees.

Directors, Executive officers and Significant Employees

As of December 31, 2004, the directors and officers were as follows:

NAME			      AGE	POSITION

Michael S. Monaco	 40	Chief Executive Officer, Chief Financial Officer,
                                and Director

Wade Richardson		 63	President and Director


Item 3.	Legal Proceedings

Currently the Company is engaged in no litigation and to the best of its
knowledge has no pending or threatened litigation. However, from time to
time, the Company is involved in litigation in the ordinary course of its
business. As a result of legal defenses and insurance arrangements, the
Company does not believe that any such litigation, if decided unfavorably
to the Company, would have a material adverse effect on its business or
assets.

Further, to the knowledge of management, no director, officer, affiliate
or holder of record or beneficial owner of more than 5% of the common
voting stock of the Company is a party adverse to the Company or has a
material adverse interest in any proceeding.


Item 4. Submission of Matters to a Vote of Security Holders.

None

PART II

Market Price and Dividends on the Company's Equity
and other Shareholder Matters.

Item 5. Market Information

There has been no secondary market trading activity in the Company's
common stock during the year 2004 nor any trading activity that the
company is aware of. IFI does not have a market maker currently and
no trades were executed during 2004.

At December 31, 2004, the number of shareholders of record was approximately
1,021.

The Company has not paid dividends with respect to its common stock, and does
not intend to pay dividends in the foreseeable future. It is the present
intention of management to utilize all available funds for the development
of the Company's business.

Item 6. Plan of Operations

The Company plans to continue to deliver its current principal services of
The origination, brokerage and servicing of residential and commercial
mortgages. In addition, the Company may conduct other activities as it
explores the profitable opportunity to operate using its license as a
non-depository financial services loan company under Hawaii Law.


Item 7. Financial Statements

The Company has retained the services of an independent certified public
accountant for the purposes of preparing a compilation of the Company's
books and records and anticipates having audited financial statements pre-
pared when financially able to do so.  The following figures were provided
by management to the independent certified public accountant for the prepar-
ation of a compilation.


<TABLE> <S> <C>

<ARTICLE> 5

<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          DEC-31-2004
<PERIOD-END>                               DEC-31-2004
<CASH>                                        485,570
<SECURITIES>                                        0
<RECEIVABLES>                                  82,837
<ALLOWANCES>                                        0
<INVENTORY>                                         0
<CURRENT-ASSETS>                              790,301
<PP&E>                                        763,193
<DEPRECIATION>                                (87,117)
<TOTAL-ASSETS>                              2,034,784
<CURRENT-LIABILITIES>                       1,455,546
<BONDS>                                             0
<PREFERRED-MANDATORY>                               0
<PREFERRED>                                         0
<COMMON>                                    2,560,287
<RETAINED-EARNINGS>                        (1,981,049)
<TOTAL-LIABILITY-AND-EQUITY>                2,034,784
<SALES>                                     3,157,756
<TOTAL-REVENUES>                            3,157,756
<CGS>                                               0
<TOTAL-COSTS>                               3,608,226
<OTHER-EXPENSES>                                    0
<LOSS-PROVISION>                               39,088
<INTEREST-EXPENSE>                              1,404
<INCOME-PRETAX>                              (490,962)
<INCOME-TAX>                                        0
<INCOME-CONTINUING>                                 0
<DISCONTINUED>                                      0
<EXTRAORDINARY>                                     0
<CHANGES>                                           0
<NET-INCOME>                                 (490,962)
<EPS-BASIC>                                    (0.098)
<EPS-DILUTED>                                  (0.098)

</TABLE>


Item 8.	Changes in and Disagreements with Accountants

The Company did not change nor have any disagreements with its principal
accountants.

Part III

Item 9.

Item 10. Executive Compensation

Michael S. Monaco:
Chief Executive Officer, Cheif Financial Officer and Director	$250,000.00

Wade Richardson:
President and Director						$0


Mr. Monaco has an Employment Agreement (the "Agreement") with the Company
that entitles him to a base annual salary as well as such bonus as may be
determined at the discretion of the Board of Directors.


The Company has no indirect compensation plans nor does it provide other
employee benefits at this time.

Item 11. Beneficial Ownership of Directors and Officers

Michael S. Monaco:				1,000,000 shares

Wade Richardson:				166,387 shares

Item 12 Certain Relationships and Related Transactions

There are no certain relationships or related transactions to report.

Item 13.	Reports on 8-K

Changes in Control of Registrant

There were no significant changes in control of the registrant during 2004.
There were no directors that were added or terminated during 2004.
The prior Chief Financial Officer, James Hestor volutarily resigned
in Mid 2004 to change employment.  Mr. Monaco then assumed sole
responsibilty as Chief Financial Offcer for the Company at that time.

In accordance with Section 13 or 15(d) of the Exchange Act, the Registrant
caused this report to be signed on its behalf by the undersigned, thereto
duly authorized.

Investors Finance, Inc.
(Registrant)

By /s/ Michael S. Monaco
    _______________________________
    	Michael S. Monaco
	Chief Executive Officer
        Chief Financial Officer

    December 31, 2004

In accordance with the Exchange Act, this report has been signed below by
the following persons on behalf of the registrant and in the capacities and
on the dates indicated.

By  /s/  Michael S. Monaco
     _________________________________
     Michael S. Monaco
     Chief Executive Officer
     Chief Financial Officer


CCERTIFICATION

         I, Michael S. Monaco, the Chief Executive Officer, Chief Financial
Officer, and Chairman of Board of Investors Finance, Inc. certify as follows:

         1.	I have reviewed this annual report on Form 10-KSB of
Investors Finance, Inc.;

	2. Based on my knowledge, this annual report does not contain any
untrue statement of a material fact or omit to state a material fact
necessary to make the statements made not misleading with respect to the
period covered by this annual report;

         3. Based on my knowledge, the financial statements, and other
financial information included in this annual report, fairly present in all
material respects the financial condition, results of operations and cash flows
of the registrant as of, and for, the period presented in this annual
report.  Management retained the services of a certified public accountant
to prepare a compilation of its books and records and to the best of our
knowledge and belief, this report correctly reflects the financial condition
of the Company as of December 31, 2004. While the financial statements have
not been audited, the Company anticipates having audited financial statements
prepared when it is financially able to do so.

         4. I am responsible for establishing and maintaining disclosure
controls and procedures (as defined in Exchange Act Rules 13a-14 and 15d-14)
for the registrant and have:

                  a) designed such disclosure controls and procedures to
       	    ensure that material information relating to the
            registrant, including its consolidated subsidiaries,
            is made known to us by others within those entities,
            particularly during the period in which this quarterly
            report is being prepared;

                  b) evaluated the effectiveness of the registrant's
            disclosure controls and procedures as of a date within
            90 days prior to the filing date of this quarterly
            report (the "Evaluation Date"); and

                  c) presented in this quarterly report our conclusions about
            the effectiveness of the disclosure controls and procedures
            based on our evaluation as of the Evaluation Date;

         5. I have indicated in this annual report whether or not there were
significant changes in internal controls or in other factors that could have
significantly affected internal controls subsequent to the date of our most
recent evaluation, including any corrective actions with regard to significant
deficiencies and material weaknesses.


                   		/s/ Michael S. Monaco
                              ----------------------------------------
                              Michael S. Monaco
                              Chief Executive Officer
         		      Chief Financial Officer